October 21, 2014

2011 year of the “great deal”?

2011-year-of-the-sale

2011 looks set to become the year of the “great deal”. With all the doom and gloom around - and most of us expected to get hit in the pocket one way or another - there might be some light at the end of the tunnel. Car retailers have still got budgets to achieve and staff to pay and in many cases shareholders to appease, so in an industry that … [Read more...]

Keeping an uninsured car soon to be outlawed in GB

crushed-car

New rules will make it illegal to keep an uninsured car in Britain whether it is being driven or not. Owners who have not declared their uninsured cars and vans off the road could have them seized and crushed. Transport Minister Mike Penning said uninsured cars were a "real road safety issue". The measure, introduced under Labour, will be … [Read more...]

Cherished plate transfers can be a nightmare for dealers

ams1

Cherished number plate transfers are becoming a major issue in the motor trade, as more and more people switch on to the idea of a personal plate the situation looks set to become even harder. Buying a cherished plate for your new car is nowhere near as costly as once it was, you could get a plate now for as little as £200 and the idea appeals to … [Read more...]

House of Commons Transport Committee to look at motor insurance costs

ukhc

It has been announced by parliament that the House of Commons Transport Committee has agreed to hold a “short inquiry” into the cost of motor insurance in the UK The Committee intends to focus on the reasons and consequences of recent increases in the cost of motor insurance and the impact on young people of the high costs of motor insurance. … [Read more...]

AA reveal massive jump in cost of car insurance

car-insurance

Motoring organisation The AA has recorded the biggest jump in the cost of car insurance since it started tracking the market, with young people bearing the brunt of the rise. Figures due to be published this week show premiums for 17 to 22-year-olds have risen by as much as 47% in a year. Young male drivers are paying the most, with the … [Read more...]

Registrtaion “10 O” sells for nearly £100,000 at DVLA auction

10-o

Someone still has cash to burn as the final day of the DVLA Personalised Registrations' autumn auction witnessed the registration "10 O" being sold for a staggering £92,920. As the winning bid was made by phone during at a tense and packed auction room here at Rudding Park, near Harrogate, mystery surrounds the successful bidder. 10 O is the … [Read more...]

HPI warn used car buyers to be wary of Category B insurance write-offs

Vehicle data experts HPI are warning used car buyers about the rising number of Category B insurance write-offs being dangerously repaired and returned to UK roads for sale. These are vehicles that have been recommended by the Association of British Insurers (ABI) to be scrapped. "The Government's Scrappage scheme gave the UK new car market a … [Read more...]

Swings and roundabouts for new car buyers when it comes to the VAT rise

Buyers are worried that they will have to pay the extra 2.5 % VAT on their new car even though they ordered them this year while the rate is still at 17.5%. The extended lead times currently being experienced with many car manufacturers is creating nervousness amongst customers and franchised dealers, who can certainly do without the negative … [Read more...]

Draft dodgers

For those of you who thought bankers drafts were as good as cash, think again. It takes up to 5 days for a BD to clear and if it is stolen or a forgery your car can be long gone before the bank or you realise leaving you with no car and no money. In that case what is the point of a bankers draft over a cheque? … [Read more...]

VAT’ll do nicely!

It is widely believed that the increase in VAT from January 11th will stimulate new car sales in the second half of 2010 and that the industry will welcome an increase in sales during the traditionally quieter periods. However some believe that car buyers will merely be bringing forward their purchase decision leaving a hole in the overall … [Read more...]

Traders need to ensure the wheels keep turning

trade-plates

Working in the motor trade can be an expensive business. Traders and garage owners are often dogged by unseen costs and often feel they’re under constant financial pressure. For motorists, it may seem as if garages and dealerships are always making money and the thought of putting their vehicle through the workshop can send shivers down the … [Read more...]

Car buyers confidence hit by showroom tax, says Motorpoint

According to a new poll of 1,000 motorists carried out by car supermarket Motorpoint has revealed 93 percent of car buyers would think twice about buying a new car because of the forthcoming 'Showroom Tax'. From April 1st new car owners will be subject to a one-off first-year charge on top of their usual VED. Based on a car's CO2 emission, the … [Read more...]

Taking the temperature of the trade and fearing the budget

Prices at auction seem to be showing no sign of slowing as good quality low mileage cars remain scarce, and dealers are already feeling the effects of the end of scrappage and wondering how they will fill the gap. Buyers need to look carefully over the coming weeks and months for manufacturers offering their dealers incentives to shift more … [Read more...]

New car price hikes threaten stability

The Lord Mandelson giveth and he taketh away and this phrase probably describes, quite aptly, what the motor trade is going through right now. Last year jobs were being lost, sales figures were being decimated, showrooms were either empty or closing and factory output was grinding almost to a halt. After pressure from the industry and lobbying, … [Read more...]

Quentin trouble at the BBC

I’d like to get one thing straight first off, MTI quite likes Quentin Willson. I won’t go as far as to say we’re best mates with him but some of our “people” met him (even though Quentin didn’t actually realise it) at the recent Automotive Management Used Car Conference at The Birmingham Motorcycle Museum and found him to be a thoroughly decent … [Read more...]

2009 and the year ahead

As 2009 draws to a close and we reflect on a tumultuous year it’s fair to say the ups and downs have been quite staggering. What, at the start of the year, was predicted to be the very worst of years, for many car dealers and some up and coming car makers (Kia, Hyundai etc) has actually been pretty good. As we look back on some of MTI's … [Read more...]

Pre-budget report 2009 motoring round-up

VAT As we know VAT will return to 17.5% as from 01 January 2010 and this will obviously impact on buyers of new (and some used) cars from the start of next year. Fuel Duty As already announced by the Chancellor in his 2009 Budget, fuel duty will continue to rise by 1p a litre above inflation each year from 2010 to 2013. Vehicle Excise … [Read more...]

VAT conundrum means it’s better to buy now

Another good reason for buyers to do a deal and buy a car this side of Christmas is that not only will they pay less VAT but the dealer will pay less VAT on his profit. This means he gets to keep more of it. In the new year the retailing of what the trade call “qualifying” used cars, which will usually be ex-company, leasing or rental cars (i.e. … [Read more...]

Buying a new car? Better strike while the iron is hot!

As car dealers look to re-align the prices on their used car stock, they have to be mindful of reacting to the market too quickly. In other words, just because there seem to be fewer enquiries and the overall feel of the market has changed dealers shouldn’t think that by distress selling older cars they will not have to pay more in a few weeks time … [Read more...]

DVLA launch new 0300 car tax line

DVLA has launched a new memorable 0300 telephone line for motorists to tax their vehicles. The new number, 0300 1234 321, is available 24 hours a day, 7 days a week and takes less than 4 minutes to use. The service automatically checks that correct insurance and MOT documents are in place. The popularity of the environmentally-friendly phone and … [Read more...]

HPI joins forces with Police over car cloning

Vehicle information expert, HPI, supports calls this week from the Association of Chief Police Officers (ACPO) to increase the amount of available data that can be used to clamp down on car cloning. Cloning is the vehicle equivalent of identity fraud where the stolen vehicle is illegally disguised as a similar vehicle already on the road. HPI … [Read more...]

‘One in five’ young drivers uninsured

A fifth of young drivers are on the roads without car insurance, a new report from the Motor Insurance Bureau has revealed today. The report finds that around 243,000 young drivers are uninsured. A far greater proportion of young drivers are uninsured compared to the average driver, which is one in 20. Given that young drivers are more … [Read more...]

The careful seduction of the monthly payment

At the same time as used car prices have been on the rise (especially on the wholesale market) margins have been shrinking and it has been the task of the business manager to try and maximise profitability on every … [Read more...]

Car insurance and the recently passed driver

As a young driver it can be difficult securing cheap car insurance. To help with this we have created a guide which may help you with the process. If you’re a teenage driver who has just passed your practical driving test, chances are you can’t wait to get behind the wheel on your own. However, there is still one roadblock to pass – securing car … [Read more...]

Drivers “don’t trust” road taxes

Motoring taxes have been handled so badly that drivers no longer trust what ministers say the charges pay for, an MPs' report says. Inconsistency over justification for green taxes "tarnished their image", according to the transport committee. … [Read more...]